HomeCrypto NewsMarketInstitutional Custody Provider With Close Ripple Ties To Support Flare Token

Institutional Custody Provider With Close Ripple Ties To Support Flare Token

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Standard Custody will support FLR tokens.


 

Standard Custody, a subsidiary of Polysign, which provides institutional custody services for digital assets, will support FLare Networks FLR token, says Polysign CEO Jack McDonald.

Mickey_B_Fresh (@MrFreshTime), an XRP influencer, disclosed this in a tweet on Saturday, sharing clips from a Linqto chat with the Polysign CEO on Thursday.

“Flare is on our list, not currently, but it’s on our roadmap,” said McDonald in the shared clip.

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It is significantly bullish for longstanding members of the XRP community, who will receive FLR token rewards in January as part of an airdrop for XRP holders at the time of a December 2020 screenshot, as reported by The Crypto Basic. Notably, an influx of institutional capital will likely prop up the value of the FLR tokens, and Polysign plans to create an avenue for this with Standard Custody.

It bears mentioning that Polysign is strongly linked with Ripple having David Schwartz and Arthur Britto on its board. In a Thinking Crypto podcast last year, McDonald highlighted that XRP was the first asset onboarded on the platform and confirmed a desire to work with Ripple and XRP holders. Support for FLR tokens may be the first step.

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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